The Austrian solid wood furniture manufacturer Team 7 believes that it ended the 2021 financial year with higher revenues. Team 7’s owner and managing director, Dr Georg Emprechtinger, cautioned that the exact amount would depend on how many orders could be settled with customers by the end of the year. The company booked very strong growth in the kitchen and bedroom segments, which each recently accounted for about 20% of total turnover. The Dining and Living segments, which each contribute about 30 % to total turnover, also fared well. Team 7’s net revenues improved by 7% to €101m in the 2020 financial year. Around 50% of this figure was recorded in Germany and 14 % in its home market of Austria.
Team 7 will invest around €35m in a new production hall, a wood-fired power plant and the new “Team 7 World” at its headquarters in Ried between now and the start of 2024. The Team 7 World, designed as a four-storey wooden building with a total area of 6,100 m², will include a 1,200 m² “Team 7 Store” as well as office and communication areas. The total production area will be expanded to 67,000 m² and the operating processes will be further optimised by building a 2,000 m² factory hall.